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SHIB Burn Rate Jumps 515.33% — Will Price Follow Suit?
The price of Shiba Inu (SHIB) has not yet reflected the significant increase in its burn rate, which has jumped by a staggering 515.33% over the past few days.
As reported earlier today, the SHIB developer team itself claims that they also transfer roughly 400,000,000 Shiba Inu to unspendable blockchain addresses every month. This massive influx of tokens being burned off the market could potentially be beneficial for the cryptocurrency’s price in the long run.
However, as the chart below shows, the current SHIB price performance is not yet reflecting this growth:
According to Shibburn, a popular platform that tracks SHIB burns, the burn rate has increased by 515.33% in recent times.
Source: u.today
